Mr. Cooper (COOP, $12.79) Enters $1 Billion...

Indra Bhattacharjee

published in Blogs

Jan 04, 2019

Mr. Cooper (COOP, $12.79) Enters $1 Billion Service Transaction Deal with IBM (IBM, $117.13)

On January 3, Mr. Cooper Group Inc., announced the acquisition of certain non-core assets of IBM for $48 billion. Chief of these assets include the purchase of IBM’s Seterus mortgage servicing platform that was primarily designed to help a client manage a portfolio of distressed loans in times of financial crisis, especially during 2008. Mr. Cooper’s acquisitions include servicing rights underlying $24 billion in government sponsored enterprise mortgages, and another $24 billion sub-servicing contract in mortgages.

Jay Bray, Chairman and CEO of Mr. Cooper Group Inc., says that he is optimistic that this new liaison will begin a new phase in the management of home finances as this transaction looks forward to augment the company’s profitability targets and portfolio growth, along with providing access to Seterus’s 300,000 customers.

On the other hand, Jay Bellissimo, General Manger, Cognitive Process Transformation, IBM Global Business Services, explained that since 2008 the portfolio of distressed loans is much stable now but is no longer a core asset. The time is suitable to divest this business to a mortgage servicing specialist who will advance it even further. The move is also in line with IBM’s revised business strategy that is to move away from the non-core businesses and to accelerate the company’s security, cloud, cognitive computing and mobile businesses, among other strategic focus areas.

Mr. Cooper expects to fund this transaction, targeted to close in the first quarter of 2019, with the financing on the mortgage servicing rights and cash.

Related Tickers: COOP

Sergey Savastiouk

published in Blogs

Mar 07, 2021

4 Tricks Hedge Funds Use to Get Ahead

If the stock market were Major League Baseball, hedge funds and institutional investors would be the pros on championship teams while everyday self-directed investors (SDIs) are the benchwarmers in the minors.It’s how they get ahead, and it’s why 90% of SDIs lose money trying to play (invest and trade) in the major leagues. The 4 tricks we discuss below are rooted in one common theme: they all use Artificial Intelligence and algorithms to generate data and ideas.

John Jacques

published in Blogs

Mar 22, 2018

A.I. Stock Market Predictions: Head & Shoulders

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Sergey Savastiouk

published in Blogs

Jul 10, 2020

3 Stocks to Buy if Coronavirus Second Wave Hits

By analyzing market trends from the first wave, you can predict behavior for the second. Technology stocks have performed at historic levels this year, but the market is severely overbought.To compensate for that, look at performance during Q1 and Q2, the height of global Covid shutdowns.

Edward Flores

published in Blogs

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How to Become the Millionaire Next Door

The Golden Gate Bridge is always a fixture of these walks too, one of man's most beautiful creations. As we were walking, at one point she turned to me and said, "Man, I'll never have a million dollars."" My girlfriend is 27 years old and works as a graphic designer, making about $75,000 a year.

Alla Petriaieva

published in Blogs

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Is Ethereum’s Bomb about to Explode?

Ethereum’s software is set for an update in October.Until it is finished, participants in the Ethereum blockchain must determine how to delay the difficulty bomb – code that necessitates a steadily increasing amount of computer power to mine blocks and unlock rewards – that is already in place.

Sergey Savastiouk

published in Blogs

Aug 07, 2018

When Is the Next Recession Coming?

However, we also know that economists predicted 22 recessions out of 11 that took place since 1945. Are there real recession signs we should watch for?Indeed, the answer is yes, and here are a few very important ones: The first one is almost obvious and known to everyone – it is the Fed.

Abhoy Sarkar

published in Blogs

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Central banks have been buying $2.4 billion in assets every hour for the past two months

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Rick Pendergraft

published in Blogs

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Mid-January Short Interest Report Shows 8 Stocks with Good Fundamentals and High Short Interest

Sergey Savastiouk

published in Blogs

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How to Start Trading Penny Stocks

Penny stocks have long been marginalized within the professional investment community, oftentimes being painted with a broad brush of simply being “too risky.” Leonardo DiCaprio’s depiction of the penny stock peddling conman, Jordan Belfort, in the Wolf of Wall Street certainly didn’t help.Here are four reasons to start trading them now. Reason #1: Let’s State the Obvious -- Penny Stocks are Cheap A single share of Apple Inc. costs over $350.

Abhoy Sarkar

published in Blogs

May 08, 2020

US unemployment rate jumps to 14.7%, the highest in series history

The U.S. economy’s employment fell by -20.5 million in April. The coronavirus crisis led to unemployment rate soaring to 14.7% in the U.S, the highest rate in the Bureau of Labor Statistics-tracked series history that goes back to 1948. However, the figures were better compared to several economists'/analysts' forecasts of 22 million job losses and 16% unemployment rate. Another unemployment measure that includes those who have stopped looking for work as well as those holding part-time jobs for economic reasons also touched an all-time high of 22.8%.